Ford’s continuing cost problems—and chip supply—are to blame, but inventory is high, too.
Company last week announced a net loss of $2 billion, and blamed cost issues and especially continuing computer chip shortages on results that disappointed Wall Street.
“We left about $2 billion profit on the table due to cost, and especially, to continued supply-chain issues,” CEO Jim Farley explained. “To say ‘I’m frustrated’ is an understatement because the year could have been so much more for us atInitially, Asian automakers handled the semiconductor shortage much better than domestic companies, said Sam Fiorani, vice president for global vehicle forecasting at AutoForecast Solutions. But now those fortunes have largely reversed.
In the wake of 2022’s poor showing, Ford announced Monday that Farley and Lawler will unveil the Ford+ plan to improve quality, reduce costs, and take advantage of “significant opportunities to expand capabilities and generate returns from software-enabled gas-powered and electric vehicles.” The Ford presentation will come at the Wolfe Global Auto Conference in New York City on February 15.reported on Saturday, and by noon Monday it was off another 2%.
Pre-pandemic, 80 days’ was the norm for most mainstream, non-luxury models, but those inventory numbers plummeted industrywide during COVID-19. In 2022, the Ford brand had more cars and trucks to sell than the industry on average, according to Cox Automotive.had 40 days’ worth. In the second quarter, the average rose to 35 days’, and Ford was also up by one day, to 41. For the third quarter, the industry average was 39 days’, Cox Automotive said, and Ford was up to 52 days’.
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